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Baron Delaigle - Newport News, Virginia

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Debtor:

ᐅ Delaigle, Baron - Newport News, Virginia (Court Case:10-52252)

Bankruptcy filed - December 2010, discharged - March 2011
Baron Delaigle 
Court Case:   10-52252
Chapter: 7, A chapter 7
( ... case does not involve the filing of a plan of repayment as ...) §7
Filed: December 09, 2010
Discharged: March 27, 2011



A chapter 7 bankruptcy case does not involve the filing of a plan of repayment as in chapter 13. Instead, the bankruptcy trustee gathers and sells the debtor's nonexempt assets and uses the proceeds of such assets to pay holders of claims (creditors) in accordance with the provisions of the Bankruptcy Code. Part of the debtor's property may be subject to liens and mortgages that pledge the property to other creditors. In addition, the Bankruptcy Code will allow the debtor to keep certain "exempt" property; but a trustee will liquidate the debtor's remaining assets. Accordingly, potential debtors should realize that the filing of a petition under chapter 7 may result in the loss of property.